Toyota Motor Credit (TM/28)
Filed Pursuant to Rule 433
Registration No. 333-252342
January 10, 2022
|Issuer:||Toyota Motor Credit Corporation|
|Security:||Fixed Rate Medium-Term Notes, Series B|
|Title:||1.450% Medium-Term Notes, Series B due January 13, 2025|
|Issuer Senior Long-Term Debt Ratings:||Moody’s Investors Service, Inc.: A1 (stable outlook)|
|S&P Global Ratings: A+ (stable outlook)|
|Fitch Ratings: A+ (stable outlook)|
|CUSIP/ISIN:||89236TJT3 / US89236TJT34|
|Trade Date:||January 10, 2022|
|Original Issue Date:||January 13, 2022 (T+3)|
|Stated Maturity Date:||January 13, 2025|
|Benchmark Treasury:||UST 1.000% due December 15, 2024|
|Spread to Treasury:||+30 basis points|
|Price to Public:||99.866%|
|Net Proceeds to Issuer:||99.641% / $1,145,871,500|
|Coupon:||1.450% per annum|
|Interest Payment Frequency:||Semi-annual|
|Interest Payment Dates:||Each January 13 and July 13, beginning on July 13, 2022 and ending on the Stated Maturity Date|
|Day Count Convention:||30/360|
|Business Day Convention:||Following, unadjusted|
|Business Days:||New York|
|Governing Law:||New York|
|Minimum Denominations:||$2,000 and $1,000 increments thereafter|
|Joint Book-Running Managers:|
BofA Securities, Inc.
Citigroup Global Markets Inc.
Credit Agricole Securities (USA) Inc.
MUFG Securities Americas Inc.
RBC Capital Markets, LLC
Banco Bradesco BBI S.A.
BBVA Securities Inc.
C.L. King & Associates, Inc.
ICBC Standard Bank Plc
Loop Capital Markets LLC
Mischler Financial Group, Inc.
Scotia Capital (USA) Inc.
U.S. Bancorp Investments, Inc.
|Concurrent Offering:||Concurrently with this offering of the notes, the Issuer is also offering by means of separate term sheets: (i) $300,000,000 aggregate principal amount of Floating Rate Medium-Term Notes, Series B due January 13, 2025, (ii) $750,000,000 aggregate principal amount of 1.900% Medium-Term Notes, Series B due January 13, 2027 and (iii) $400,000,000 aggregate principal amount of 2.400% Medium-Term Notes, Series B due January 13, 2032 (collectively, the “Other Notes”). This term sheet does not constitute an offer to sell, or the solicitation of an offer to buy, any of the Other Notes. Any offering of the Other Notes may be made only by means of a prospectus and related prospectus supplement.|
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to withdrawal at any time.
This term sheet supplements the prospectus supplement dated January 25, 2021 and the related prospectus dated January 22, 2021; capitalized terms used in this term sheet, but otherwise not defined, shall have the meanings assigned to them in the prospectus supplement and the related prospectus.
The Issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus supplement and the related prospectus and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the web at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BofA Securities, Inc. toll free at 1-800-294-1322, Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Credit Agricole Securities (USA) Inc. toll-free at 1-800-807-6030, MUFG Securities Americas Inc. toll-free at 1-877-649-6848 and RBC Capital Markets, LLC toll-free at 1-866-375-6829.
Additional Selling Restrictions
Each of the Joint Book-Running Managers and Co-Managers has severally agreed that it will not offer or sell any of the notes, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity organized under the laws of Japan and any branch or other office in Japan of a corporation or other entity organized under the laws of any foreign state), or to others for re-offering or resale, directly or indirectly, in Japan or to, or for the benefit of, a resident of Japan.
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